GE Vernova (NYSE:GEV) Sets New 12-Month High Following Analyst Upgrade

GE Vernova Inc. (NYSE:GEV)’s stock price hit a new 52-week high during mid-day trading on Friday after Evercore ISI raised their price target on the stock from $285.00 to $300.00. Evercore ISI currently has an outperform rating on the stock. GE Vernova traded as high as $259.32 and last traded at $257.88, with a volume of 456006 shares trading hands. The stock had previously closed at $254.68.

GEV has been the subject of several other research reports. Barclays lifted their price target on GE Vernova from $250.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and upped their target price for the stock from $200.00 to $300.00 in a research note on Tuesday, September 17th. Daiwa Capital Markets assumed coverage on shares of GE Vernova in a report on Friday, June 21st. They set an “outperform” rating and a $201.50 price target on the stock. Morgan Stanley boosted their price objective on shares of GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. increased their target price on GE Vernova from $216.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $234.98.

Institutional Trading of GE Vernova

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GEV. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of GE Vernova by 1.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,555 shares of the company’s stock worth $650,000 after buying an additional 61 shares during the period. Stonehearth Capital Management LLC raised its stake in GE Vernova by 6.1% during the 3rd quarter. Stonehearth Capital Management LLC now owns 1,474 shares of the company’s stock worth $376,000 after acquiring an additional 85 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in GE Vernova by 9.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,094 shares of the company’s stock valued at $279,000 after purchasing an additional 95 shares in the last quarter. Wedmont Private Capital lifted its holdings in GE Vernova by 3.2% during the second quarter. Wedmont Private Capital now owns 3,533 shares of the company’s stock valued at $638,000 after purchasing an additional 109 shares in the last quarter. Finally, Quent Capital LLC boosted its position in shares of GE Vernova by 18.6% in the third quarter. Quent Capital LLC now owns 709 shares of the company’s stock worth $181,000 after purchasing an additional 111 shares during the period.

GE Vernova Stock Performance

The firm has a 50 day simple moving average of $205.35.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.42 billion. As a group, analysts anticipate that GE Vernova Inc. will post 2.83 EPS for the current fiscal year.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.